Will Cardano shorting activity serve as ‘rocket fuel’ for an explosive rally?
Cardano (ADA) has recently experienced a significant surge in short-selling activity, marking the highest shorting versus longing ratio since September 2023, according to Binance data. This increase in short positions raises questions about whether this bearish sentiment could trigger a rebound rally for ADA. According to data from Santiment on X (formerly Twitter), both Cardano and XRP (XRP) are experiencing significant shorting activity by traders following recent relief bounces. “Cardano and XRP are a couple of the most notable altcoins that are seeing heavy trader shorting following relief bounces. This is a good sign for patient bulls, as liquidate short s can effectively act as ‘ rocket fuel’ for continued price rises.” Picks for you Bitcoin fees nosedive 64% in a week; What does it mean? 15 mins ag